I would suggest you read your Bank's insurance policy small print and see what is covered. We have a Bank Insurance Policy and it seems to have the same rules and regulations as all the other policies. I think the Insurance Companies offer quite similiar Holiday Insurance, as we did check out a few before we took the Bank policy.
We have claimed twice, once for my husband's root canal in Turkey and once for a gold watch I lost in Istanbul. Both times policy paid up, no bother. I think as long as you can provide all the right paperwork you have the best chance of a claim.